Our Rights Upon Default Clause Samples
The "Our Rights Upon Default" clause defines the actions and remedies available to a party if the other party fails to meet its contractual obligations. Typically, this clause outlines steps such as demanding immediate payment, suspending services, or terminating the agreement if a default occurs. Its core function is to protect the non-defaulting party by providing clear, enforceable options to address breaches, thereby minimizing risk and ensuring accountability.
Our Rights Upon Default. Upon any Event of Default, we may take one or more of the following actions, subject to applicable law (including any applicable notice requirement and/or right to cure): (a) either declare all or any portion of the Loan to be immediately due and payable or, without waiving any rights (including our right to later exercise any of our rights upon an Event of Default, as described in this Section), allow you to repay the Loan by making scheduled payments; (b) commence an action against you to collect all amounts owed in connection with this Agreement and all of our out-of-pocket costs and expenses, including reasonable attorneys’ fees and court costs, incurred by us in connection with the defense, protection or enforcement of our rights under this Agreement (including, without limitation, in connection with any bankruptcy proceeding) (collectively, “Costs of Collection”); (c) withdraw funds from any of your Bank Accounts by ACH debit, up to the unpaid amount that you owe us under this Agreement (including the Returned Item Fee as set forth in section 4 and any Costs of Collection); and (d) exercise any and all rights or remedies available to a secured creditor under Article 9 of the Uniform Commercial Code or analogous state laws. All rights available to us are cumulative and not exclusive of any other rights or remedies available to us in law or equity.
Our Rights Upon Default. If one or more of the Events of Default above happen, we may enforce our rights in accordance with applicable law and we may demand immediate payment of all amounts owed under this Agreement and file suit for or otherwise pursue collection from you of all remaining unpaid sums. We acknowledge that under the laws of your state we may have the burden of proof regarding default events (2) through (7) above, and you may have a period of time to cure any Event of Default before we may demand immediate payment of all amounts owed under this Agreement. If legal action under this Agreement occurs, except as specifically addressed in the Arbitration Provision of this Agreement, you agree to pay all costs of collection that we or our assignee or successors in interest incur, including attorneys' fees and expenses of legal actions (to the maximum extent permitted by applicable law).
Our Rights Upon Default. Upon default, we may demand the immediate payment of all amounts owed us We may hire or pay someone else to help collect any amount that you may owe us. You agree to pay any collection, arbitration, court costs incurred by us or other sums provided or allowed by law. This includes, subject to any limits under applicable law, attorneys’ fees and legal expenses for bankruptcy proceedings, civil actions, arbitration proceedings, declaratory actions or other filings or proceedings, and efforts to modify or vacate any automatic stay or injunction, appeals, and any anticipated post- judgment collection services.
Our Rights Upon Default. Upon default, the entire unpaid principal balance of the Account and all accrued and unpaid interest thereon and all other sums owing, shall be immediately due and payable. If at any time CMI employs counsel to pursue collection of the sums due under the Account, then Applicant shall be indebted to CMI for its reasonable attorney’s fees together with all cost of collection.
Our Rights Upon Default. In the event you default on this Agreement, we may suspend or revoke your membership privileges. If your default continues for 30 days, we may demand immediate payment of the entire amount you owe in addition to any financial institution charges and collection fees including but not limited to solicitors’ costs and commissions incurred by TOTALFIT IPSWICH.
Our Rights Upon Default. In the event you default on this contract, including the violation of any rule then in effect,
Our Rights Upon Default. Upon default, Lender may demand the immediate payment of all amounts owed Lender. Lender may hire or pay someone else to help collect any amount that
Our Rights Upon Default. In the event you default on this Agreement, including the violation of any rule then in effect, we may suspend or revoke your membership privileges. RETURNED CHECKS & LATE FEES: A twenty-five dollar ($25) fee will be charged for any returned checks. A seven dollar ($7) late fee & a three dollar ($3) service fee will be assessed to late payments. If the member defaults on the agreement we may demand immediate payment of all unpaid payments.
Our Rights Upon Default